1
Type
Speaker
CPD Hours Level
Seminar 5 UpdateInformation
Accreditation Information
SRA Competency B

Introduction

Many firms of accountants, solicitors and tax advisers have clients with equine assets and the associated issues can be extremely complicated.

With greater farm diversification the role of the horse has become more critical to farming income streams, including haymaking for horses, increased liveries and tourism in national parks. The leading Upper Tribunal case of Vigne has also brought the horse into the tax spotlight.

This new full day course will consider the full tax and VAT issues in the equine world.

What You Will Learn

The course will cover the following:

  • HMRC aggressive approach & equine loss claims
  • The badges of trade or personal interest
  • BPR and general equine activities - Proof of commerciality - the importance of the business plan
  • Stud farming & income
  • Vigne - enhanced livery, Upper Tribunal decision
  • Tax efficient stallion disposal
  • APR and stud farming
  • The stud farmhouse and RNRB
  • Equine IHT enquiries
  • 11 year hobby farming loss rules
  • VAT and livery complexities - zero, exempt, standard
  • VAT and teaching as an exempt supply
  • Racehorse ownership - VAT and tax planning
  • Tax efficient equine sponsorship
  • The horsemeat scandal and Wheatley
  • Tax planning & equine diversification - riding schools, polo, showjumping, dressage and eventing
  • Horse dealing and ‘pinhooking’
  • The equine probate and divorce
  • NPPF2 - the equine business and development land
  • The ‘brownfield’ site and the livery yard
  • Allowing for private usage in VAT, income tax and capital taxes
  • The impact of the stock valuation and the cost of keep
  • Tax treatment of haymaking for horses
  • Thorne - the need for forensic identification
  • Partial exemption for VAT
  • Opting to VAT on equine developments
  • Sharkey v Wernher and the transfer to stock at market value
  • Racing interaction with breeding
  • Farm diversification and the equine operation, the Agriculture Bill
  • The ‘rollover buyer’ converting a farm into a stud, the plethora of tax reliefs IF structured correctly and commercial
  • The importance of good books and records, strong MTD and superb trail of evidence on all equine clients

Book now

Future dates are coming soon.
Please let us know if you wish to be notified.
Prices (ex VAT)
Smart
Plan Information
£243
Season
Ticket Information
£270
Standard
£540
Group bookings
Discounts are available for multiple places and if you have 5 or more people interested in this course and would like to discuss holding it in your area or on an in-house basis then please email us at information@mblseminars.com
Can’t Make the Date?

Please let us know if you wish to be notified when new dates are added for this programme

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